Gold rushed higher and retreated, indicating that the upper resistance is effective. In the long run, gold has risen from 1892 to near 1983, up $90. So in terms of magnitude, the correction is also normal, even if we choose to go long, we may have to wait for the end of the sharp rise before looking for trading opportunities, gold is currently at a high level, which is not a good buy position
Personal Gold Trading Strategy:
XAUUSD:SELL@1980-1985 TP1970-1965
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.